Congratulations on your retirement! We want to make sure you’re fully informed about the choices available for your retirement savings. Here are the paths you can take:
Remain in your current plan, if you are allowed to.
Roll your savings into an individual retirement account (IRA) to maintain tax-deferred growth.
Take a distribution, but be aware it may trigger taxes and possible IRS penalties.
Now that you’ve retired, here are some key questions to review with your advisor:
How long will your savings need to support you throughout retirement?
Do you have a defined monthly budget in place?
What should you expect healthcare to cost during retirement?
Are there additional financial goals you hope to achieve?
Are there opportunities to continue saving even while retired?
Do you have a comprehensive view of your finances to support confident decision-making?
A job change often brings exciting new possibilities! There’s a lot to consider when managing your retirement savings. Here are the four options available to you:
Remain in your current plan, if you are allowed to.
Roll your savings into an individual retirement account (IRA) to maintain tax-deferred growth.
If available, you can move your plan to your new employer’s plan after assessing its benefits relative to your current plan.
Take a distribution, but be aware it may trigger taxes and possible IRS penalties.
If you’re changing jobs, here are some key questions to review with your advisor:
What investment strategies can help keep your savings tax deferred?
How might this job change affect your overall retirement strategy?
Has your income changed—and does it allow you to save more for retirement?
How does your new employer’s plan compare to your current one?
Do you have a comprehensive view of your financial picture to support confident decision-making?
